The State’s largest landlord improved occupancy across its portfolio to 99 per cent by the end of April as it increased the number of properties under control.
Ires Reit said on Wednesday that trading in the first quarter was in line with its expectations and that net rental income margin stood at 80.7 per cent in the period.
In a stock market update, the property investor said it had collected 98 per cent of the rent owed to it by the end of April, but it flagged that there’s no certainty in relation to the rate of rent collection in the coming months given uncertainties caused by the Covid-19 pandemic.
During the three month period, Ires took delivery of 55 units at its Waterside development and 18 units at its Tallaght Cross West development, bringing the total number of properties it owns to 3,739. The average age of the company’s portfolio
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